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Guide for CPFM Exam

Quiz CPFM Exam

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Quiz

1/10
Accounting - Control and Monitoring of Cash Assessment
What is the primary purpose of cash management in an organization?
Select the answer
1 correct answer
A.
To increase sales revenue
B.
To minimize expenses
C.
To ensure liquidity and meet financial obligations
D.
To expand market share

Quiz

2/10
Accounting - Merchandising Transactions
What is the primary accounting method used to record sales in merchandising transactions?
Select the answer
1 correct answer
A.
Cash basis accounting
B.
Accrual basis accounting
C.
Modified cash basis accounting
D.
Fund accounting

Quiz

3/10
Accounting - Receivables and Payables
What is the primary purpose of accounts receivable in a business?
Select the answer
1 correct answer
A.
To track cash sales
B.
To represent amounts owed by customers
C.
To manage employee salaries
D.
To record inventory purchases

Quiz

4/10
Accounting and Its Use in Business Decisions
What is the primary purpose of financial accounting in a business?
Select the answer
1 correct answer
A.
To provide information for internal management decisions
B.
To ensure compliance with tax regulations
C.
To prepare financial statements for external stakeholders
D.
To track employee performance

Quiz

5/10
Accounting Theory
Which of the following best describes the concept of "going concern" in accounting theory?
Select the answer
1 correct answer
A.
The assumption that a company will cease operations in the near future.
B.
The principle that financial statements should reflect the economic reality of the business.
C.
The assumption that a company will continue to operate for the foreseeable future.
D.
The requirement to record all transactions at fair value.

Quiz

6/10
Adjustments for Financial Reporting
Which of the following is NOT typically considered an adjustment for financial reporting purposes?
Select the answer
1 correct answer
A.
Depreciation expense
B.
Accrued liabilities
C.
Revenue recognition
D.
Capital contributions

Quiz

7/10
Checking Accounts
What is typically required to open a checking account?
Select the answer
1 correct answer
A.
Proof of income
B.
A valid identification document
C.
A credit card
D.
A mortgage application

Quiz

8/10
Comparision with Cash Management
What is one primary advantage of effective cash management over traditional budgeting methods?
Select the answer
1 correct answer
A.
Increased inventory levels
B.
Improved liquidity and cash flow
C.
Higher fixed expenses
D.
Decreased revenue

Quiz

9/10
Completing the Accounting Cycle
What is the primary purpose of completing the accounting cycle?
Select the answer
1 correct answer
A.
To prepare financial statements
B.
To reduce tax liability
C.
To increase cash flow
D.
To determine employee salaries

Quiz

10/10
Emergency Fund
What is the primary purpose of an emergency fund?
Select the answer
1 correct answer
A.
To pay for luxury items
B.
To cover unexpected expenses
C.
To invest in stocks
D.
To save for a vacation
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Info quiz:

  • Quiz name:CPFM Exam
  • Total number of questions:240
  • Number of questions for the test:100
  • Pass score:90%
  • Number of topics:24 Topics
Study topics:Number of questions:
  • Accounting - Control and Monitoring of Cash Assessment:10 Questions
  • Accounting - Merchandising Transactions:10 Questions
  • Accounting - Receivables and Payables:10 Questions
  • Accounting and Its Use in Business Decisions:10 Questions
  • Accounting Theory:10 Questions
  • Adjustments for Financial Reporting:10 Questions
  • Checking Accounts:10 Questions
  • Comparision with Cash Management:10 Questions
  • Completing the Accounting Cycle:10 Questions
  • Emergency Fund:10 Questions
  • Employee Benefits:10 Questions
  • Employee Wages:10 Questions
  • Homeowners Insurance:10 Questions
  • Inflation:10 Questions
  • Insurance and Protection:10 Questions
  • Managing Debt:10 Questions
  • Matching Product:10 Questions
  • Measuring and Reporting Inventory:10 Questions
  • Money Management:10 Questions
  • Recording Business Transactions in Accounting:10 Questions
  • Shares and Bonds:10 Questions
  • Short Term Savings:10 Questions
  • Stock and Commodities Markets:10 Questions
  • Taxation:10 Questions

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